According to the report, cutting greenhouse gas emissions will reduce the impacts and costs associated with climate change. Achieving the 2°C target of the Paris Agreement could limit losses in annual growth to up to 1.6 per cent, compared to 2.2 per cent for the 3°C trajectory. While the COVID-19 pandemic is expected to hit the ability of countries to adapt to climate change, investing in adaptation is a sound economic decision.
2020 was not only the year of the COVID-19 pandemic. It was also the year of intensifying climate change: high temperatures, floods, droughts, storms, wildfires and even locust plagues. Strong action is needed now to reduce greenhouse gas emissions to meet the Paris Agreement goals of holding global warming this century to well below 2°C and pursuing 1.5°C.
The UNEP Adaptation Gap Report 2020 looks at where the world stands in planning, financing and implementing adaptation actions. It finds that while nations have advanced in planning, more financing is needed to scale up adaptation projects so they can help protect against climate impacts such as droughts, floods and sea-level rise. Public and private finance for adaptation must be stepped up urgently, along with faster implementation. Want to know more? Watch our Ask A Scientist session to answer your most-searched questions about climate.
This article originally appeared on unep.org